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Bankruptcy Law and Student Loans: Not a Working Relationship

Under the current system, it is all but impossible to get student loans wiped out through bankruptcy, unlike most other forms of unsecured debt such as credit card and medical bills....more

By The Book - August 2013: Collection of Student Loans: Update on Interpretations of Fair Debt Collection Practices Act Violation

The Fair Debt Collection Practices Act (“FDCPA”) 15 U.S.C. §§ 1692-1692p (2012), passed in 1977 and effective in 1978, has undergone a series of amendments over the years, but maintains one of its primary purposes, which is...more

Student Loans: Nondischargeability Questioned in Seventh Circuit and Beyond

Conventional wisdom says that it is nearly impossible to obtain a discharge of student loan debt in bankruptcy. Indeed, Section 523(a)(8) expressly excepts student loans from discharge, unless the exception of such...more

Bill on Bankruptcy: Easterbrook Turns the Tide on Student Loans  [Video]

April 18 (Bloomberg) -- Why and when U.S.-managed hedge funds can go bankrupt in the Caribbean, not in the U.S., is the first item discussed on the new bankruptcy video with Bloomberg Law's Lee Pacchia and Bloomberg...more

New Legislation Introduced to Allow Discharge of Private Student Debt

The Consumer Financial Protection Bureau (the “CFPB”) reported in 2012 that U.S. borrowers are burdened by more than $1 trillion in student debt, including over $150 billion of private student loans. According to TransUnion,...more

Bill on Bankruptcy: Delaware to Continue Dominating Bankruptcy  [Video]

Feb. 6 (Bloomberg) -- The dominance of Delaware and New York bankruptcy courts is secure for another two years, for reasons Bloomberg Law's Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle explain on their...more

Second Circuit to Student Loan Collectors: Know Your Bankruptcy Law!

A recent decision by the Second Circuit underscores the importance to debt collectors of accurately describing the options available to a student loan borrower in bankruptcy, even a borrower who previously filed but did not...more

Second Circuit Applies “Least Sophisticated Consumer” Test In Student Loan Debt Collection Case

On August 30, the U.S. Court of Appeals for the Second Circuit held that a debt collector’s representation to a debtor that her student loans were “ineligible” for bankruptcy discharge is a “false, misleading, or deceptive”...more

Reduce Student Loan Debt in Niagra Falls, New York

If you want to relocate, consider Niagra Falls and reduce your student loan debt....more

Consumer Financial Protection Bureau Shaking Up Private Student Loan Industry

The Consumer Financial Protection Bureau has issued a report highlighting significant consumer protection issues in the private student lending industry and making recommendations to ensure transparency. ...more

Congressman: Fix The Student Debt Crisis With Bankruptcy Reform [Video]

July 25 (Bloomberg Law) -- While economic indicators continue to worsen, US bankruptcy law still prohibits individuals from getting rid of their student debt except in the rarest of circumstances. U.S.Representative Steve...more

Student Loans and Bankruptcy: The Uphill Climb to Eliminating Your Student Loan Debt By Matt Nash

Student loan debt is on the rise in this country, so it is no surprise that one of the most common questions posed by potential clients is whether or not they can eliminate their student loan debt. The answer is most likely...more

Ex-Dean: I Expect Some Law Schools to Close [Video]

April 25 (Bloomberg Law) -- Former University of Nebraska and University of Houston Law School Dean Nancy Rapoport tells Bloomberg Law's Lee Pacchia that she expects some law schools to close their doors because of the...more

Student Loans and Bankruptcy Discharge

In the past, student loans could be discharged by bankruptcy but not anymore. Since 1976, the bankruptcy code was changed to disallow student loans from being discharged. Recent statistics have shown that the amount of...more

Private Student Loans May Soon Be Dischargeable in Bankruptcy Again

On June 2011, United States Senators Durbin, Whitehouse, and Franken joined with several United States Representatives to introduce legislation to reinstate a fair playing field for debtors facing student loan debt by...more

Taking Back Oz Through Bankruptcy Liquidation

Breaking the illusion of the current economic crisis by taking a symbolic look at the classic film, Wizard of Oz. I propose a sequel. ...more

Facing Foreclosure? Beware the Greedy Vultures!

A former client called to tell me that her niece was being evicted from her one-family house in Queens County and asked if I could help. The niece, who had recently lost her husband after a long illness, had already paid...more

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